What’s happened to your home mortgage bill over the last year? The interest bill on the average $580,240 owner-occupied home loan is $792,693, meaning the true cost of the typical home loan in this country is $1.37 million, according to financial comparison site, Canstar. The analysis is based on the Reserve Bank of Australia’s average…
Our housing markets experience ups and downs don’t they? Although home prices experienced a dip in 2022, it was nothing compared to the surge experienced during the pandemic when interest rates hit record lows. Looking back over a longer period of 10 years, it is clear that almost all suburbs have experienced price growth, with…
Australia’s total credit card bill attracting interest charges has dropped by $161 million – the largest drop since last July. This significant drop comes as they use money back from their tax returns to clear credit card debt. The last time debt accruing interest rose in July was 2009. Credit card statistics: personal credit in…
Is assessing Demographics an integral part of the way you build your property portfolio? If not you could be missing the key to building long-term wealth without significant risk. Understanding demographics could and should be the final piece of the puzzle for you during the decision-making process. It is certainly something we monitor at Metropole…
You often hear about buyers being gazumped or struggling to get the right information from the real estate agent to even be able to submit an offer. And how about the sellers who don’t even trust their own real estate agent enough to take their advice? These stories, and the many other grey areas surrounding real…
Australians are showing no signs of improved optimism about the Reserve Bank of Australia (RBA) and the government’s ability to ease inflationary pressures and the cost of living this year, according to new research from Canstar. The sentiment survey conducted in August 2023 canvassed the opinions of over 2,600 Australian adults finding 46% have no…
Younger Aussies looking to own a home could be waiting a while, according to new research by Finder. Finder analysis shows young Australians need at least 12 years to save for a deposit for the average unit and 16 years for the average house if they start saving today. This would mean saving $299,868 for a…
The fixed-rate cliff, a term that has become colloquially known in the Australian financial landscape, is a subject that’s been garnering attention lately. With over $100 billion in fixed-rate mortgages set to expire by the end of the year, it’s time to delve into what lies on the other side of this cliff. The Fixed-Rate…
It’s an age old question. Which generation had it better? The debate over whether older generations faced unfair advantages to purchase property has soured family gatherings throughout the world. The answer is complex. Baby Boomers and Gen Xers faced different hurdles to homeownership, with the Australian cash rate sitting at 17% in 1990 and the…
What resources do you use to make your financial decisions? Surprisingly a third of Aussies turning to social media to help make financial decisions. Households across all corners of Australia are dealing with a financial crisis like no other, and alarming data from Compare the Market’s new Household Budget Barometer reveals that a staggering number…
